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6 S. y3 j( p1 yBelow is an Interesting article I found, which says that.....Do not
/ v8 I) o7 y* z0 x9 y, oexpect much from Crude Oil producers and future is not with the
: g: _1 {7 J4 w) Z- zcompanies producing Jet fuels but Biofuels. Also no wonder if some of
$ h" K/ r9 P5 W' z0 qthese oil producer will go bankrupt or out of the business even if , a; K# {% r5 _; o. B
crude prices improves. This implies also to good names such as Shell,
: }3 v* i9 _8 n' eEXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few ( B/ h& M9 ~( D e
months. There are three wars going on in Gaza, Iraq and Afghandistan.
+ a3 e V9 n/ b, I% cA year ago these things would have spiked the price of crude oil by at
6 X' l. J- L& V( `least $50.00 per barrel. Today, oil price declined by a record amount. ( S7 W4 ], D# B/ c7 Q, V# P. }
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" T3 n3 c- F- O7 o1 W" fThere are several reasons the price of oil is decreasing in the face
) c& u' s5 k. S7 z0 w# uof so much news. These reasons are: * `. X* T/ C" t" x4 L, x7 @' k
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1. New oil has been found in Canada, Montana, North & South Dakota and ( k0 M6 e9 j" c3 u
in the ocean near Brazil. Each of these oil fields has more oil than + Q# ^# g7 m4 c6 z
Arabia. ) W9 a& G! l# n
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: V8 D; F. o" o* A; z3 [2. New natural gas has been found in Pennsylvania and West Virginia. 8 O% M4 v7 ?; z7 K9 v
This is the largest find in North America. + ?# v$ a2 A" e" ?8 Q
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( v% e P6 q' @3. New methods of injecting CO2 and surfactants into oil wells is ) ]' u% b7 u) l
being used to double their output. . y8 V3 i7 o3 s+ l
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$ N/ }, w0 S3 B% R6 \4. Production of bio-fuels is beginning to reach critical mass. Bio
$ ^- F+ V8 C7 y" Jfuel is being produced from many plants and algae. The production 3 k t& v2 Q! k* R. N! T1 c9 z
potential per acre in some cases is astounding. Many countries are ) h1 ?- W" D1 D
racing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants
; ^! c$ ^: V/ z) s% h5 ^6 rare now selling their used oil to bio-diesel producers. Every pork, # L2 O# R: D/ U2 g M
cattle, turkey and chicken processing plant will soon sell their fat 7 [7 q. l# [ G/ w2 }3 ~- w4 B& e
to bio-diesel producers. One pork processing plant in Oklahoma is
( }) C m1 j" l3 s0 O( ]producing 30,000 gallons of bio-diesel per day from pork fat.
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, T, |0 ]3 H2 X0 I) p8 D- ^6. There are 99 nuclear reactors in various stages of planning and 9 W/ ^. d* A% ^6 ^0 ?3 @' J
construction around the world at this time. Several hundred more are
+ }% w, I7 Z$ M& c% hexpected to be built in the future. Much of the energy they produce - |, o+ S1 ^% a) q: |( ~4 j8 i) V# G
will replace oil.
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7. Every company in any form of transportaion business is replacing x4 L( k1 F1 U% s
older equipment such as trucks, airplanes, train engines, ships, etc. d8 V. x* `" O
with new more fuel efficient equipment. Airlines and railway companies 0 w5 E9 s% I+ T& b
are experiencing 20% to 25% better fuel econony with the new " b) y/ L E6 e2 N1 ?* U
equipment. - k& r3 p+ u- x
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+ C+ E: s3 q% ^# B' h+ [- |* _Airlines are flying airplanes with bio-fuel. They are finding the bio-
K1 Y: ~5 x- F* T! C" t' Z3 w8 rfuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to + w# q; E: A6 I! K1 I, k: W! Y) J
capture methane gas from landfills. This is a huge source of gas ; ^" D3 e4 N/ k) f
available at very little cost or risk. The gas is displacing crude ! f. h; ?6 }9 f- F& i
oil. 4 l2 _9 q: D) R- ]9 g+ f, T
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/ F1 w) ~* v6 S. c9. Coal is being transformed into a clean burning liquid fuel. The CO2
2 c V9 a/ B: ~1 nproduced as a byproduct is sold to oil companies for injection into
& A8 U" \: x% a( f, _7 @; roil wells. 0 {& K$ Y5 h2 T& p$ k# d* Q: H7 d3 z
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- C6 I1 W2 C6 {7 r0 M5 b8 v10. Solar, wind and ocean energy is displacing oil as an energy & @8 C# ]# A# P) ^3 Z: q+ a
source. Three new wind turbines are being erected every day in the US. 4 ]7 _( J) D1 ^ e
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Each of the above by itself will not make a large difference in the
/ Z: p" e$ E+ p2 Qprice of crude oil but the sum of all of them together is world + w2 g9 V. P( O
changing. The important thing is that OPEC no longer has the ability ) ` ~' S, ]* y
to control oil prices. . g+ k( O6 t/ j$ @# x7 P
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With the above scenario, I still believe that there are under 6 {* I7 Q8 n+ g/ g
performed OIL companies and probably they are yet to get the justified
/ z$ ]4 l, e V% u, Q w U6 l) Svalue .....
. q5 S2 S9 |3 V0 A* cIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN : S+ G2 u& o- r" J) c
2009 ... FYI-Only |
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